North Carolina Insurance Commissioner Mike Causey today announced the arrest of Sheldon James May, 27, of Columbus, Ga. May is charged with felony conspiracy.
Special Agents with the Department of Insurance's Criminal Investigations Division accuse May of conspiring with Andrew Bryant Belk to embezzle money from IAT Insurance Group Inc. Belk was arrested earlier.
The offense occurred between March 8-9, 2016.
Special Agents and Wake County deputies arrested May on Feb. 7. He was given a $3,000 secured bond.
"This kind of white-collar crime is unacceptable," Commissioner Causey said. "That's why I've doubled the number of Special Agents to investigate white collar crimes. Cracking down on this type of crime will put more money in the pockets of businesses and consumers."
To report suspected fraud, contact the N.C. Department of Insurance Criminal Investigations Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.gov/fraud-control.